Midst

In the midst of more pressing issues about the future ownership of the state’s major private-sector electric utility, the lower House of the Oregon legislature Friday gutted a bill from the Senate (SB 408) that attempted to resolve the long-standing consumer group criticism of how utility income taxes are handled for ratemaking purposes. Portland General Electric (PGE), under Enron Corp.’s consolidated tax structure since 1997, has been a target of criticism.

Even in the midst of a brewing international oil crisis and the state’s skyrocketing gasoline prices at the pump, Californians are expanding their organized opposition to proposed offshore liquefied natural gas (LNG) terminals along the state’s southern Pacific Coast. Hoping to head off the ground swell, One proponent already has scheduled community information meetings later this month in Oxnard and Malibu, CA, the onshore entry point for a terminal 22 miles offshore.

Even in the midst of a brewing international oil crisis and the state’s skyrocketing gasoline prices at the pump, Californians are expanding their organized opposition to proposed offshore liquefied natural gas (LNG) terminals along the state’s southern Pacific Coast. Hoping to head off the ground swell, One proponent already has scheduled community information meetings later this month in Oxnard and Malibu, CA, the onshore entry point for a terminal 22 miles offshore.

Noting that old maximum capacity through Bondad Station was 585 MMcf/d, El Paso said it is in the midst of replacing the station’s three turbines, one at a time, as part of the Bondad Expansion Project. “As the new turbines are placed into service, the base capacity of the station will increase,” it added. “The capacities stated below are based on engineering calculations, but may vary, depending on actual operating conditions.” Bondad 2A replacement was completed March 2. Replacement of Bondad 1A and Bondad B are set for March 8-19 and March 29-April 16 respectively, and the entire station will be down for annual Department of Transportation inspections March 30. Bondad Station capacity (in MMcf/d) will vary as follows: through March 7, 610; March 8-19, 545; March 20-29, 640; March 30, zero flow; and March 31-April 16, 640. After April 16 the expansion project’s targeted maximum capacity of 725 MMcf/d will be in effect.

In the midst of a concerted public relations/lobbying blitz by their cornered regulatory prey, El Paso Corp., lawyers who have built the case for alleged market power abuses by the Houston-based gas pipeline giant are unabashedly confident that they will get a favorable decision from the Federal Energy Regulatory Commission by the end of this year.

In the midst of less cheerful news this month, Spokane, WA-based Avista Corp. Thursday asked the Oregon Public Utilities Commission for a 7.1% decrease in its natural gas rates for the 80,000 customers it serves in that state. It is the second gas decrease this year, reflecting the downturn overall in wholesale natural gas prices.

Coming as some encouraging news in an energy industry in the midst of a financial and credit crisis, Dominion reported Thursday operating earnings for the second quarter of $272 million (97 cents per share), compared with $180 million (72 cents per share) for the same period in 2001, excluding a $25 million charge related to the divestiture of Saxon Capital, Inc.

The transmission and generation parts of vertically integrated rural electric cooperatives are enjoying strong credit ratings in the midst of the more turbulent private-sector electricity industry with its political and financial crunch. And proposed farm legislation in Congress eventually could strengthen the rural utilities’ financial positions as they enter somewhat of a generation building boom era, according to Standard & Poor’s latest analysis out of its energy finance team in New York.

Even in the midst of a credit/credibility crunch that has shrunk its stock price and slowed its aggressive development program, San Jose, CA-based Calpine Corp. is looking to expand its natural gas operations, including a lusting eye toward the coal-bed methane industry in the heartland of the U.S. During an interview with NGI Tuesday, Calpine’s chief gas executive said he expects prices to trend upward as new supplies get tighter.